August 27th, 2021
Global Satellite Manufacturing and Launch Market
The GMI Research projects that the Satellite Manufacturing and Launch Market will perceive a rise in demand over the forecast period. This is mainly because of the mounting emphasis on enlarging satellite networks, the evolution of 5G networks, and their surging implementation of the satellites for commercial and military.
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Introduction of the Satellite Manufacturing and Launch Market
Satellite-based earth observation is executed for different services such as google maps and weather forecasts. Also, this data is extensively employed by the military, defense, and government bodies to safeguard their nation from the threat.
Key Players of Market:
· Airbus SE
· International Launch Services (ILS)
· Northrop Grumman Corp
· Lockheed Martin Corp.
· Space Exploration Technologies Corp.
· Thales Group
· Raytheon Co
· Airane Group
· Blue Origin
Satellite Manufacturing and Launch Market Dynamics
The increasing inclination of individuals towards the aerospace sector to study space is a major factor fuelling the growth of the global satellite manufacturing and launch market. Also, the augmenting demand of satellite networks across various commercial applications and the surging need for complicated and economic observation of earth mission satellites will further strengthen the market demand. Further, the mounting usage of commercial satellites for defense and military purposes is stimulating market growth. On the other hand, the inflated initiation cost, as well as the huge investment, may hamper the global satellite manufacturing and launch market size.
Type Segment Drivers
Based on the type, satellite manufacturing is projected to capture the highest share in the market. The aggravating demand for satellite communication and scrutiny applications stimulates the production of advanced satellites. Besides this, as per the satellite manufacturing and launch market research report, the satellite launch will expand at a higher rate over the coming years. This is because the growing demand for recyclables minimizes the overall satellite launch costs.
End-Use Segment Drivers
As per the end-user, the market is segmented into commercial and military. Amongst which, the military will dominate the market over the coming years due to the increasing investment by defense forces and private agencies to produced modernized military systems and their growing implementation for military convey and inspection application.
Based on the regional coverage, North America is contemplated to dominate the market owing to the massive investment by the U.S. government and space agencies in satellite production and the evolution of reusable systems. For instance, in September 2019, NASA accorded a contract of USD 4,600 million to Lockheed Martin Corporation to offer six reusable Orion crew capsules incorporated with lighter 3D printed modules.
Satellite Manufacturing and Launch Market Segmentation:
Segmentation by Type
· Satellite Manufacturing
· Launch Services
Segmentation by Application
· Communication Satellite
· Military Surveillance
· Navigation Satellite
· Earth Observation Satellite
Segmentation by Region:
o United Kingdom
o Rest of Europe
· North America
o United States of America
· Asia Pacific
o Rest of APAC
o South Africa
o Saudi Arabia
About GMI Research
GMI a leading consulting company spotlighted as one of the promising market in the Silicon India Magazine offers enterprises with business acumen and market research reports. The team cumulates all the material information about enormous industries applying internal and external databases. The concentration of the organization is to apprehend our clients with the impending challenges across different industries. Our team of seasoned experts succours clients in perceiving the effect of market dynamics such as size, share, drivers, growth opportunities, and other aspects.
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